Given their proactive measures and potentially critical service offerings, legal tech companies are not yet receiving many requests for discounts or extended payment terms. But some caution it may be just a matter of time before more widespread disruption takes hold.
Outstanding invoices may be pilling up at an organization near you. Amid COVID-19 shutdowns and subsequent economic pain, client payment disruptions are becoming more prevalent across the economy. And with many law firms tightening their belts, those servicing the legal industry are likely receiving their fair share of requests for discounts or extended payment terms.
Just how much this is happening in the legal tech industry, however, isn’t entirely clear. But despite certain things in its favor, the industry is susceptible to such disruption, and there are signs that it is, for now, enough of a potential problem to motivate legal tech companies to take proactive measures.
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